Spruce Power Holding vs Sunation Energy
Spruce Power Holding is the larger business, with $112m of revenue in fiscal 2025 against $71.9m for Sunation Energy (1.6 times as much). Spruce Power Holding grew faster (36.2% against 26.5%). Sunation Energy kept more of each dollar of sales as profit: a net margin of -15.1% against -23.3%.
| Latest fiscal year | Spruce Power HoldingSPRU, 2025 | Sunation EnergySUNE, 2025 |
|---|---|---|
| Revenue | $112m | $71.9m |
| Revenue growth | 36.2% | 26.5% |
| Net income | −$26.0m | −$10.9m |
| Operating margin | — | -2.3% |
| Net margin | -23.3% | -15.1% |
| Return on equity | -19.8% | -66.2% |
| Free cash flow | −$3.8m | $906,384 |
| Cash | $54.8m | $7.2m |
| Total debt | $696m | $8.4m |
| Debt to equity | — | 34.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $1.8m | — |
| Employees | 159 | 164 |
| Market value | $26.0m | $14.5m |
| Price vs our value range | — | — |
| Moat score | 14 (Weak) | 36 (Weak) |
| Insider trades, 12 months | 55 buys, 2 sales | 2 buys, 0 sales |